Friday, October 23, 2009
South Korea Provides a US$200 Million Concession Loan to Cambodia over a Period of Three Years – Friday, 23.10.2009
Posted on 23 October 2009
Posted on 23 October 2009
The Mirror, Vol. 13, No. 635
(Posted by CAAI News Media)
“Phnom Penh: The South Korean president promised to the head of the Royal Government of Cambodia to provide US$200 million in concession loans for 2009 to 2012 to develop the Cambodian economy and society.
“The promise of such loan provisions was made during the two-day official visit of the South Korean President, Mr. Lee Myung-Bak, and his delegation in Cambodia on 22 and 23 October 2009. Together with the above concession loan, the governments of both countries also signed 9 agreements and memorandums of understanding to strengthen cooperation between Cambodia and Korea.
“After the meeting at the Ministry of Foreign Affairs of Cambodia, on Thursday evening, the Minister of Foreign Affairs, Deputy Prime Minister Hor Namhong, told journalists that the Korean government is ready to provide donations in response to the destruction in Cambodia, recently caused by the typhoon Ketsana, and Mr. Lee Myung-Bak will send his Minister of Foreign Affairs to check the situation, and Cambodia will raise the requirements to repair roads, schools, and hospitals that were damaged by this typhoon.
“Deputy Prime Minister Hor Namhong added, ‘In response to Prime Minister Samdech Hun Sen’s request, the South Korean President, Mr. Lee Myung-Bak, agreed with the comprehensive and strategic partnership between Cambodia and Korea.’
“Regarding tourism, within the past five years, the Korean tourists’ arrival figures were still at the first position [in 2009 it will probably be Vietnamese tourists which provide the top number] with many Korean tourists visiting Cambodia. In this sense, Deputy Prime Minister Hor Namhong went on to say, ‘Prime Minister Samdech Hun Sen will offer 1 year visas for Korean tourists to encourage them to visit Cambodia.’
“During a dinner party, a Cambodian-Korea business meeting, on Thursday evening, Prime Minister Samdech Hun Sen said, ‘This visit shows more clearly that the Korean government always really cares about the close ties and and the cooperation between both countries, and the presence of His Excellency [Mr. Lee Myung-Bak] and Her Excellency [Kim Yun-Ok] as well as the Korean delegation and the business community will surely bring new success and achievements, with the efforts to help develop the Cambodian economy and society, continuing to strengthen and to expand the cooperation in all fields, including politics, security, economy, social affairs, and culture.’
“Prime Minister Samdech Hun Sen said that Cambodia and Korea have been cooperating with the aim to ensure new opportunities, with the intention to mutually contribute and share benefits in order to achieve economic growth and poverty alleviation.
“Prime Minister Samdech Hun Sen added that the Cambodian-Korean ties and cooperation appear to be more noticeable, through the cooperation to implement different projects together, like the cooperation to organize the Angkor-Kyongju World Exhibition, joint investments, and the cooperation to create a Cambodia stock exchange market.’
“During the party, the South Korean President, Mr. Lee Myung-Bak, said also that he sees some positive points for future cooperation between both countries; first, in agriculture and bio-energy. In this sense, Mr. Lee Myung-Bak stressed, ‘Cambodia has high agricultural potential while Korea is experienced in modernizing rural areas of poor people via the New Village Movement countrywide.’
“Second, the president focused on cooperation in forestry, and Korea promised to implement a project to plant trees on 200,000 hectares, which is a win-win policy to restore forestry, to produce bio-energy, as well as to create job opportunities. His project will become a fine project of cooperation creasing ‘green’ cooperation bilaterally, which can create proper carbon dioxide emission credits and help to control global climate change.
“The South Korean president added that the third field is cooperation in industry, to provide training and education services, where at present, there are more than 500 enterprises in Cambodia contributing to develop the Cambodian economy.
“The fourth field focuses on cooperation in building infrastructure, where since the 1970ies, Korea has a lot of techniques, capital, and experience, and has constructed infrastructure in Korea and in other countries in electricity, roads, and railroads.
“Deputy Prime Minister Hor Namhong continued to say that the Cambodian-Korean cooperation has reached a comprehensive and strategic partnership, and both countries will boost this cooperation further.
“During this meeting, the heads of the two governments signed nine agreements:
1- Extradition treaty;
2- Conditional agreement between the Cambodian and Korean governments about economic development cooperation for 2009-2012;
3- Agreement on cooperation between the chambers of commerce of Cambodia and Korea ;
4- Cooperation agreement to produce publications between the Ministry of Information of Cambodia and the Korean Telecommunications Committee;
5- Memorandum of Understanding between the two countries on mineral resources;
6- Memorandum of Understanding on investments to plant trees and to control climate change;
7- Memorandum of Understand on education, training, and research, between the Royal University of Agriculture and the University of Agriculture of Korea;
8- Memorandum of Understanding on rice product investments for export; and
9- Memorandum of Understanding on cooperation in the oil sector between the National Oil Authority of Cambodia and the Korean Oil Corporation. The South Korean president also promised to accept 3,500 Cambodian workers more to work in South Korea, adding to the total number of Cambodian workers to South Korea to increase to 9,000.
“The South Korean president welcomes workers to South Korea, and he promised to help Cambodian women who are legally married to Korean men.
“During the two-day visit, the South Korean president, his wife, and the delegation, went to meet also with the Khmer King, Preah Bath Preah Boromaneath Norodom Sihamoni.
“As planned, the South Korean president and the delegation will visit the well-known Angkor Wat Temple of Cambodia in Siem Reap on Friday morning, before he travels to Hua Hin in Thailand, to attend the 15th ASEAN summit from 23 to 25 October 2009.”
Deum Ampil, Vol.3, #318, 23.10.2009
Newspapers Appearing on the Newsstand:Friday, 23 October 2009